Today everyone is a part of the business world. We buy, sell or experience something almost every day. Buying and selling involve physical objects. However, the experience is intangible, such as the services we receive from a business. For example, after sales service post product purchase, installation and demo service for any electrical or household item, maintenance, and repair work of any non-living entity all come under services. Here the end result is obtained and measured in terms of value and satisfaction.
What is a business service?
Business services are something that is identifiable and recognizable by the customer, which comes under the classification of economic services, as they are of monetary value. Thus, businesses offer services in addition to systems that deliver value to the customers in the form of a service provider.
Business service could also mean professional services. Professional businesses services include business practices that require specialized training in the respective field of business, which could be automobile, science or arts. These services require the people carrying out the business to be professionals, that is hold valid degrees or licenses to such as engineers, doctors, lawyers, mechanics, architects, etc…
Characteristics of a business service:
- Services adopt the “consume or perish” policy
- Services are provided by the respective service provider and in most cases with the help of either the internal or external service suppliers
- Quality of the service is intangible and hence can be measured only by the extent of customer satisfaction. Hence, services are mainly customer oriented.
- Services are never specific but vary from one customer to another based on the needs of the customer from the service providers. Therefore, services should adapt to changing scenarios.
- Services do not have a specific time frame, rather they are provided as and when needed by the customer based on their demands. Thus, services should be timely.
- Services are enhanced through effective communication and legitimate branding